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– The Swiss company Looser Holding AG, headquartered in Arbon, has corrected its results forecast for the current business year and adjusted for currency-exchange and acquisition effects is now assume an EBITDA only at the level of last year. No forecast for turnover was made in the company’s half-year report. At the end of March, Looser was still reckoning with growth in both turnover and result for 2011. Mainly as a consequence of what it sees as an unfavourable trend in the exchange rate for the Swiss franc against the euro and the US dollar, Looser sustained a decline in turnover in the first six months of 5.1% to SFR227.9m (Jan.-June 2010: 240.3m). Adjusted for currency-exchange and acquisition effects, a rise in turnover of 2.8% was achieved. The consolidated EBITDA showed a year-on-year rise of 15.5% to SFR35.0m (30.3m). However, Looser profited here from extraordinary income totalling €9.3m from the sale of a corporate property and the disposal of its protective-building-agents business. Without those extraordinary items and expressed in local currency, the EBITDA was SFR29.2m. Consolidated profit was SFR16.9m (11.0m).
The business division Doors, which merges the activities of the interior-door manufacturer Prüm Türenwerk GmbH, Weinsheim, and Garant Türen und Zargen Produktions- und Handels-GmbH & Co. KG, Ichtershausen (both Germany), generated half-year turnover of SFR88.2m (92.0m). Adjusted for currency-exchange effects there was turnover growth of 8.7%. The EBITDA was burdened inter alia by higher raw-material costs and declined by 6.3% to SFR11.8m (12.6m). Following the price hikes which were introduced, Looser expects a recovery in the results trend in door business in the second half of the year.
The Coatings division, which includes the wood-varnish company Treffert Holding GmbH & Co. KG, Alzenau, Germany, generated half-year turnover of SFR98.9m (105.2m) and an EBITDA of SFR17.7m (11.0m). Adjusted for currency-exchange effects, revenues were up by slightly by 1%. Without taking into consideration extraordinary income, the EBITDA decreased to roughly SFR10.0m. For the first six months of 2011, Looser reports steady wood-varnish business in Switzerland, growth in Europe in the industrial wood-varnish and industrial-varnish fields and a sharp fall in sales of parquet varnishes in China and Southeast Asia.
The two business divisions Industrial Services and Tempering contributed SFR26.5m (27.9m) and SFR16.3m (17.3m) respectively to the group’s total turnover and SFR6.8m (7.3m) and SFR1.3m (1.8m) respectively to the consolidated EBITDA.
31.08.2011
Roundwood/Sawnwood
- Prices for eastern Siberian larch lumber remain largely stable in August despite holiday season
- 10 % reduction registered in Russian lumber exports
- Felling in Russia in July 2011 lower than in June
- Northwest Russian spruce lumber continues to lose market shares within Central Europe
- Latvian roundwood exports increased by as much as 26.1%
- Felling practically no longer hampered by forest fires
- Finland: Growth recorded in softwood lumber output until June
- United Business Media takes over Ecobuild
- Finland: Log deliveries still below last year‘s level
- Softwood lumber shipments down in North America in the second quarter
- Further growth in softwood lumber output until March
- Brisk demand for logs keeping price situation largely stable in Austria
- Hardwood lumber markets in UNECE revived slightly in 2010
- Lumber exports recovered in second quarter 2011
- Structural panels production declined again in Q2
Wood products
Wood-based panels
- Latvian plywood exports still higher than this time in 2010
- Demand for radiata pine plywood bounces back slightly after summer holidays end
- FFIF: Finnish plywood output grew again
- North American OSB manufacturers enjoy significant increase in exports
- North American composite panels producers‘ capacity utilisation rates stay low
- Slowdown in deliveries continued in second quarter
- GreCon wood-based panels seminar in Hanover
- Demand for MDF/HDF has undergone slight post-holiday revival since mid-August
- IHD Dresden holding ninth wood-based panels colloquium
- Summer reductions push OSB prices below last year‘s level again
- Slump in German particleboard exports persists
Furniture
- Demand for bathroom furniture remained brisk in July/August
- Fittings manufacturers anticipate possible renewed downturn in export markets
- VdDK members‘ order value up 5% in first half-year 2011
- Kitchen furniture industry sales 6% up on last year until June
Building products
Construction
- Housing construction again shows satisfactory trend
- Japan: Residential building increases by 5.8 % in June
Trade
Companies
- Lammhults: Office furniture segment improves turnover
- Slovenian furniture producer Javor Pohištvo bankrupt
- Javor Group: Another subsidiary files for bankruptcy
- Alno granted initial loan of €3m by Müller‘s Comco
- Forte enjoys strong growth in Q1 revenues and profits
- Eggerath: Business operations continue with work force of 60
- Kinnarps Deutschland bundles production in Worms
- Looser: Results forecast for 2011 corrected downwards
- Klostermann Küchen still up and running for time being
- Lowe’s: Turnover and result stabilising again
- Home Depot recovers again in the second quarter
- BlueLinx: Downward trend continues in Q2
- Temple-Inland: Timber business continues to operate at a loss
- IP: Take-over offer now extended until September
- Metsäliitto: Paper activities impose a strain on result
- Start-up in Braviken imposes strain on Holmen result
- Kurekss new sawing line starts up in fourth quarter
- Södra: Fire causes stop in production at Mönsterås
- Lafarge divests itself of gypsum operations in Asia
- Delignit: Results back in the black in first half of 2011
- Rougier books slowdown in revenue growth
- Pfleiderer Grajewo improves result again
- Gascogne records increased turnover in the first half year
- Uzin Utz shows further growth in turnover and result
- Roseburg to close two plants in South Carolina
- Resopal improves turnover by 17% in first six months
- Raute back in the black in the second quarter